Carysil shares recover from 10% fall after management says tariffs will have no impact

Shares of Carysil Ltd. the manufacturer and exporter of home furnishing products, ranging from kitchen sinks and appliances, fell as much as 10% on Friday, September 26, after some tariff-related developments from the US. The company, however, clarified that the announcements will have no impact on their business.

The Donald Trump administration, in addition to the 100% tariff on branded and patented drugs, also announced a 50% tariff on kitchen cabinets and bathroom vanities, and 30% on upholstered furniture.

These tariffs will take effect from October 1.

Neither the White House nor the Commerce Department has released details of the plans or how they would be implemented, with less than a week before the president’s target implementation date.

According to Carysil's annual report for financial year 2025, 21.5% of its consolidated topline came from the US markets.

Based on the product mix, 47.5% of Carysil's topline came from the Quartz sink business, 28.4% came from surfaces, while 10.6% came from the Steel Sink business. The rest came from appliances and others, according to their annual report.

In an exchange filing, Carysil highlighted that the product kitchen sink is not part of the kitchen cabinet, on which the Trump administration has imposed tariffs on. The company also said that they do not have any exports of kitchen cabinet and bathroom vanities and therefore, the tariffs will have no impact on the company.

In a separate filing on Thursday, Carysil had clarified that it has no intentions to raise fresh funds through a QIP to expand its manufacturing and assembly line for kitchen appliances at its Bhavnagar facility.

The management said that the project will be funded from the available funds that were raised as part of the QIP done in July 2024.

India's Mutual Funds have a 3.65% stake in Carysil at the end of the June quarter, while the Abakkus Emerging Opportunities Fund also had a 5.34% stake. Investor Ashish Kacholia held a 3.52% stake in the company at the end of the June quarter.

All six analysts that have coverage on Carysil have a "buy" rating on the stock

Shares of Carysil Ltd. are trading 5.2% on Friday, to close at ₹805. The stock had declined over 3% on Thursday as well. The stock has been flat over the last one month and gained 11.4% so far in 2025.